Apple 'to buy Shazam for $400m'

Apple is close to buying the music recognition app Shazam for about $400m, media reports say. Shazam, a UK company founded in 1999, allows people to use their smartphone or computer to identify and buy music through a snippet of sound. Neither Apple nor Shazam have commented on the reports on the TechCrunch site. The influential Music Business Worldwide site points out that the reported price is significantly lower than the $1bn valuation placed on Shazam during its last funding round in 2015. By acquiring Shazam, Apple would basically cut out the middleman and save money on commissions.